Cloud conversion and extension for top 10 global fund administrator

May 14, 2018

14th May 2018

Cloud conversion and extension for top 10 global fund administrator

StatPro Group plc, (“StatPro”, “the Group”, AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has signed a multi-year cloud conversion and extension contract from StatPro Seven to StatPro Revolution with a top 10 global fund administrator, which has over $1.5 trillion funds under administration.

The contract, worth at least $500,000 per annum, is aligned with the Group’s strategy to target global fund administrators, partnering to build state of the art technology platforms to provide improved services to the asset management industry.

Fund administrators are increasingly required to provide a wide range of complex technologies to deliver the services that asset managers need. StatPro Revolution has been tailor-made to address these complex portfolio analytics requirements, using advanced technology to fulfil these needs under a single platform solution.

Justin Wheatley, Group CEO, commented:

“As asset managers increasingly look to outsource their routine processes due to regulation and cost pressures, they will increasingly gravitate towards those fund administrators that have invested in the best technology and unmatched service.

“Our strategy is to address the needs of the global fund administration industry to provide best in class cloud-based portfolio analytics technology to their asset management clients.”

The Group’s integrated and global data coverage includes over 3.2 million securities such as equities, bonds, mutual funds, FX rates, futures, options, OTCs, sector classifications and much else besides. StatPro also covers most families of benchmarks including MSCI, FTSE, Russell, NASDAQ and the open source Freedom Index.

StatPro has grown its Annualized Recurring Revenue from less than £1 million in 1999 to around £53 million at the end of December 2017. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.